Hurlizter Pianos Has Just Purchased a Piece of Equipment at a Cost

Hurlizter Pianos has just purchased a piece of equipment at a cost of $345,000. This equipment will reduce cash operating costs by $65,000 each year for the next 5 years. This equipment has a salvage value of $20,000. Ignoring income taxes, how long will it take for the company to recover its entire cash investment?

A) 5.23 years
B) 5.00 years
C) 4.92 years
D) The company will never recover its entire investment.